Share: Introduction Just the word and logo IRS on an envelope could cause heart palpitations. You open the letter and see the word “Levy”. This means the IRS has or is in the process of legally seizing your assets to collect unpaid taxes. According to the IRS, millions of Americans face an IRS levy each… Read More
ADVERTISING DISCLOSURE: Some of the links on this blog post and/or newsletter contain affiliate links. This means when you click the link and make a purchase, I may earn a commission at no extra cost to you. Thanks. Share: Ergedine Pericles, March 27, 2024 Introduction In the realm of small business operations, efficient financial management stands… Read More
Share: According to the IRS, Statistics of Income Division, Publication 1304, January 2024 in the 2021 tax year, 33.73% of returns filed were Married Filing Jointly / Qualifying surviving spouse, 2.43% Married Filing Separately, 13.21% Head of Household and 50.63% Single. In the complex world of tax regulations, couples who elect “Married Filing Jointly” as… Read More
Share: As April 15th approaches, it’s essential to recognize the importance of filing an income tax return, even if you fall below the income threshold set annually by the IRS. While you may not be legally obligated to file due to income limitations, doing so can yield numerous benefits. There are six reasons why filing… Read More
ADVERTISING DISCLOSURE: Some of the links on this blog post and/or newsletter contain affiliate links. This means when you click the link and make a purchase, I may earn a commission at no extra cost to you. Thanks. Share: Receiving an IRS audit letter can be a nerve-wracking experience for any business owner. An IRS… Read More
No one wants to be on the bad side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters and communications landing in mailboxes is continuing to increase and one of them could land in your mailbox.… Read More
Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money. The much feared tax agency does not contact taxpayers just to say hello; and receiving communication from them is not likely to be good news. When your heart stops pounding and… Read More
Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability. Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the… Read More
Being an adult has its perks, from being able to rent a car and book a hotel room to the chance to earn a living and rent an apartment. But life as an adult also comes with some challenges, including the burden of filing and paying taxes. If this year is the first time you… Read More
Freedom and Flexibility, But Taxes Too! The dream of being your own boss is a powerful motivator for many. However, the realities of self-employment extend beyond pursuing your passion. Understanding self-employment taxes is crucial to avoid financial headaches down the road. This guide equips you with the knowledge to navigate tax season with confidence, even… Read More